Bell Copper Corp. (BCU.V: Quote) announced the signing of a purchase agreement with Copper Fox Metals Inc. (CUU.V) whereby Copper Fox will acquire 100% of Bell Copper's interests in the Van Dyke property located in Miami, Arizona and the Sombrero Butte property located in Pinal County, Arizona.
Under the terms of the Purchase Agreement, Copper Fox will acquire 100% of the Properties by paying to Bell Copper C$2.0 million in cash and assuming Bell Copper's continuing obligations in respect of the Properties.
Bell Copper said that the Purchase Agreement is subject to the company completing the acquisition of the Van Dyke property pursuant to the terms of the purchase and sale and royalty agreement between Bell Resources Corp., a wholly-owned subsidiary of Bell Copper, and Bennu Properties, LLC, Albert W. Fritz Jr. and Edith Spencer Fritz, including payment by Bell Copper of US$500,000 in cash to the Vendors on closing.
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by RTT Staff Writer
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